UPDATE 12:47 p.m.: (AP) - An alumnus has donated $110 million to California Polytechnic State University, San Luis Obispo - the largest gift in Cal State history.
School officials said during a campus ceremony Wednesday that the donation by William Frost and his wife Linda will go to Cal Poly's College of Science and Mathematics.
The money includes $3.6 million annually to support student scholarships, research stipends, equipment purchases and expanded hiring of instructors.
Original post: (AP) - Officials are set to announce a gift to California Polytechnic State University, San Luis Obispo, that is described as the largest in Cal State history and among the largest ever in state public higher education.
The donation by alumnus Bill Frost and his wife Linda will be announced Wednesday during a ceremony on campus attended by Cal State Chancellor Timothy White.
Cal Poly spokesman Matt Lazier said Tuesday that the money is expected to transform the school's undergraduate research program.
The record for largest Cal State donation is a $60 million anonymous 2008 gift to Cal Poly's College of Architecture and Environmental Design.
Frost, a 1972 graduate, founded Chemlogics, which sold chemicals and polymers used in the extraction of oil and gas. The company sold for $1.3 billion in 2013.